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FIRST FEDERAL SAVINGS BANK OF PUERTO RICO STOCK TO BE LISTED ON NYSE

 SAN JUAN, Puerto Rico, Feb. 10 /PRNewswire/ -- Angel Alvarez Perez, president and chief executive officer of First Federal Savings Bank of Puerto Rico (NASDAQ: FFPR), announced that the New York Stock Exchange has accepted the San Juan, Puerto Rico-based savings bank's application to be listed. The bank expects to commence trading on the NYSE by the middle of March.
 The New York Stock Exchange is the leading equity trading market in the United States and accounts for 77 percent of the U.S. stock trading activity.
 "Listing on the New York Stock Exchange is a significant milestone for our bank," according to Alvarez. "First Federal will soon become one of a select group of 2,100 of the U.S. strongest companies which have met the requirement to be listed in this prestigious stock exchange." First Federal will be the second Puerto Rican company, and the only banking company in Puerto Rico to be listed on the NYSE.
 "Some of the advantages we anticipate from listing in the NYSE," continued Alvarez, "include enhanced liquidity for our shares and more readily available information on First Federal's stock."
 Stock listing for the NYSE, the nation's most visible exchange, is available daily in newspapers worldwide. Many investors trade exclusively in NYSE companies, 47 percent of all shareowners, according to information provided by the exchange.
 First Federal Savings Bank, with $1.9 billion in total assets, is the largest savings institution in Puerto Rico, and second among local banking institutions, including commercial banks. The bank operates 30 branch offices in Puerto Rico and the U.S. Virgin Islands, and three branches in Miami, through its wholly owned subsidiary, First Florida Savings Bank.
 -0- 2/10/93
 /CONTACT: Annie Astor de Carbonell, executive vice president and chief financial officer of First Federal Savings Bank of Puerto Rico, 809-724-1715/
 (FFPR)


CO: First Federal Savings Bank of Puerto Rico ST: Florida IN: FIN SU:

AW-JB -- FL008 -- 5268 02/10/93 15:02 EST
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Publication:PR Newswire
Date:Feb 10, 1993
Words:326
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